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Wednesday, 18 July 2007 - NETELLER Plc (LSE: NLR), the independent global online payments business, today announced certain changes to its services in the Israeli market.
The Group continually assesses the risk profile and status of the markets its serves. Recent legal developments have increased the uncertainty regarding the legality around certain activities related to online gambling in the Israeli market. The Company has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Israeli resident customers.
Key features of service changes
In light of the recent legal developments in Israel, NETELLER has decided to implement a voluntary phased withdrawal of the payment services related to online gambling that it offers customers to the Israeli market.
Cessation of Israeli resident customer transfers related to online gambling merchants:
The Group will cease processing transfers to online gambling merchants for Israel-resident customers with effect from 12.01 a.m. GMT on Thursday 19 July 2007.
The Group will cease processing transfers from online gambling merchants to Israel-resident customers within two weeks, with effect from 11.59 p.m. GMT on Tuesday 31 July 2007.
Non-gambling related services continue:
Israel-resident customers will be able to continue to use their NETELLER e-wallet account for any non-gambling related money transfers and withdrawals.
Local funding options for the NETELLER e-wallet will continue to be available to Israel-resident customers.
Customers located in other parts of the world are not affected by this change, and NETELLER continues to service these customers in the normal manner. The Israeli business of the Group does not represent a material proportion of the Group’s overall customer base, revenue or profitability.
Further information is available on the Group’s website for customers at: updates.neteller.com
The Group continually assesses the risk profile and status of the markets its serves. Recent legal developments have increased the uncertainty regarding the legality around certain activities related to online gambling in the Israeli market. The Company has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Israeli resident customers.
Key features of service changes
In light of the recent legal developments in Israel, NETELLER has decided to implement a voluntary phased withdrawal of the payment services related to online gambling that it offers customers to the Israeli market.
Cessation of Israeli resident customer transfers related to online gambling merchants:
The Group will cease processing transfers to online gambling merchants for Israel-resident customers with effect from 12.01 a.m. GMT on Thursday 19 July 2007.
The Group will cease processing transfers from online gambling merchants to Israel-resident customers within two weeks, with effect from 11.59 p.m. GMT on Tuesday 31 July 2007.
Non-gambling related services continue:
Israel-resident customers will be able to continue to use their NETELLER e-wallet account for any non-gambling related money transfers and withdrawals.
Local funding options for the NETELLER e-wallet will continue to be available to Israel-resident customers.
Customers located in other parts of the world are not affected by this change, and NETELLER continues to service these customers in the normal manner. The Israeli business of the Group does not represent a material proportion of the Group’s overall customer base, revenue or profitability.
Further information is available on the Group’s website for customers at: updates.neteller.com